UK large bank NatWest implements ClearSpend mobile app from US fintech startup to control card spending

29 May 2017

National Westminster Bank, one of the largest retail and commercial banks in the United Kingdom, is partnering with American fintech startup SpendLabs over the use of its ClearSpend application enabling tracking of commercial card spending in real-time, while establishing spending limits and ensuring full monitoring of the business expenses.

According to the preliminary report, the application is currently on the trial that involves 100 Commercial card holders of NatWest, and the company plans to launch massive implementation later this year with the application to come to NatWest, RBS and Ulster Bank customers. ClearSpend application can be installed on iOS and Android-based mobile devices and used as a web service.

Alison Rose of NatWest notes that this strategic partnership with the California-based fintech company is just another example of their efforts to join forces with innovative technology startups for providing most cutting-edge solutions to their business and corporate clients.

He further underlines that businesses know the value of accurate spending control as it is the key for cost efficiency, but many modern tools to monitor commercial expenses prove ineffective and time consuming while failing to provide access to up-to-date information.

Rose concludes that ClearSpend is the right solution to address such challenges, being a great idea he encountered while visiting Silicon Valley companies recently.